The general anti-avoidance rules will now apply as Dr Shome had said from the year 2016-2017 and it will not apply to Foreign Institutional Investors (FIIs) and Non Resident Indians (NRIs). In an interview to CNBC-TV18, Aliff Fazelbhoy of ALMT Legal said that it will increase FII investment through GAAR.
In an interview to CNBC-TV18, Hitesh Jain, partner at ALMT Legal speaks about the Companies Bill and gives his outlook going forward.
The government has appointed leading law firm ALMT Legal, Advocates & Solicitors as legal adviser for selling its 10 per cent stake in the country's largest iron ore miner NMDC.
Aliff Fazelbhoy, partner - tax, M&A and employment, ALMT Legal gives a detailed analysis on the draft guidelines released by the finance ministry which would exempt foreign institutional investors if they refrain from routing money to India via tax shelters.
The Indian Government has issued a notification on 13 June 2012, pursuant to which tax will no longer be deducted on multi-level software payments made to a resident, subject to certain conditions.
The Competition Commission of India (CCI) may give an order on cement cartel today. In an interview to CNBC-TV18, Hitesh Jain, partner, ALMT Legal says, it is going to be a protracted litigation. According to him, cement companies are likely to contest CCI order.
In an interview to CNBC-TV18, Aliff Fazelbhoy, partner-tax, M&A and employment of ALMT Legal says, whilst the FM has done a lot of good things, there is some confusion; he could have done more on the GAAR.
Foreign portfolios in India have been left shaken on implementation of certain provisions in the General Anti-Avoidance Rules (GAAR) by Income-Tax officials. The fear that FIIs will start pulling money out of India has left the market in turmoil.